TNAG-2468-FCO40-3592-Most-favoured-nation-status-for-China-Hong-Kong-interests-1992 — Page 176

SINO-U.K. JOINT DECLARATION

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IN 1984, CHINA AND BRITAIN SETTLED THE FUTURE STATUS OF

HONG KONG AND DETAILED THE BASIC POLICIES OF THE PRC REGARDING

HONG KONG IN THE JOINT DECLARATION, A FORMAL INTERNATIONAL

AGREEMENT.

CHINA WILL RESUME THE EXERCISE OF SOVEREIGNTY OVER

HONG KONG ON JULY 1, 1997; AND THE TERRITORY WILL BE GOVERNED

AS A SPECIAL ADMINISTRATIVE REGION OF CHINA UNTIL AT LEAST THE

YEAR 2047. THE CHINESE GOVERNMENT WILL BE RESPONSIBLE FOR HONG

KONG'S FOREIGN AFFAIRS AND DEFENSE, JUST AS THE BRITISH

GOVERNMENT HAS THOSE RESPONSIBILITIES TODAY.

UNDER THE AGREEMENT, HONG KONG WILL ENJOY A HIGH DEGREE OF

AUTONOMY IN ALL OTHER MATTERS. THE SPECIAL ADMINISTRATIVE

REGION, OR SAR, WILL HAVE ITS OWN GOVERNMENT AND LEGISLATURE

COMPOSED OF LOCAL RESIDENTS. THE FUNDAMENTAL RIGHTS AND

FREEDOMS OF ITS RESIDENTS ARE TO BE ENSURED BY LAW, AND

INDEPENDENT COURTS WILL ENFORCE THESE LAWS. CHINA'S SOCIALIST

SYSTEM WILL NOT BE IMPOSED IN HONG KONG. HONG KONG WILL

CONTINUE TO PARTICIPATE AFTER 1997 IN INTERNATIONAL AGREEMENTS

AND ORGANIZATIONS WHICH ARE OPEN TO NON-STATES, SUCH AS THE

GATT AND APEC.